XML 25 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets    
Cash $ 264,943 $ 233,741
Accounts receivable, net of allowances of $20,249 and $62,800, respectively 12,900,238 9,099,229
Inventory 481,282 606,231
Prepaids 936,064 191,498
Other current assets 457,951 377,060
Total current assets 15,040,478 10,507,759
Fixed assets, net of accumulated depreciation of $1,838,350 and $1,781,086, respectively 186,118 206,662
Deferred tax asset 1,299,417 1,299,417
Goodwill 14,101,306 14,101,306
Trade name 2,700,000 2,700,000
Intangibles, net 4,218 466,870
Customer Relationships 4,390,000 4,390,000
Other assets 591,599 317,304
Total assets 38,313,136 33,989,318
Current liabilities    
Accounts payable and accrued liabilities 11,180,064 7,406,146
Accrued interest and liabilities, related party 293,561 51,806
Line of credit 1,247,634 1,819,345
Advances, related party 400,000 50,000
Accrued payroll and sales tax 2,026,272 917,079
Deferred revenue, net 1,023,203 297,277
Current portion of note payable 150,000 310,000
Notes payable, related parties, current portion 6,912,498 4,201,650
Other current liabilities 748,583 548,050
Total current liabilities 23,981,815 15,601,353
Long term liabilities    
Note payable, related party, net of debt discount $ 11,708,947 17,007,175
Deferred tax liability 29,783
Other long term liabilities $ 296,572 157,495
Total liabilities 35,987,334 32,795,806
Stockholders' equity    
Preferred stock; $0.001 par value; 25,000,000 shares authorized 500,000 and 500,000 shares 500 500
Common stock; $0.001 par value; 100,000,000 shares authorized; 37,613,978 and 35,029,495 shares outstanding of September 30, 2015 and December 31, 2014, respectively. 37,613 35,029
Additional paid-in capital 19,039,961 17,900,139
Accumulated (deficit) (16,752,272) (16,742,156)
Total stockholders' equity 2,325,802 1,193,512
Total liabilities and stockholders' equity $ 38,313,136 $ 33,989,318